N@N

These two investing platforms see surge in transfers after Vanguard reveals fee hike

^{Published on 2024-12-20 04:41:26 - MSN}
 

• InvestEngine said its average daily Isa transfers have increased 4,000% since Vanguard's announcement, with typical daily signups increasing 366%.

Following Vanguard's announcement of fee increases for its Personal Investor and Stocks and Shares ISA accounts, there has been a noticeable surge in investors transferring their funds to other platforms. According to data from AJ Bell and Hargreaves Lansdown, AJ Bell saw a 25% increase in transfers from Vanguard in the week following the fee hike announcement, while Hargreaves Lansdown experienced a 10% rise. This shift indicates investor sensitivity to cost changes, with many opting for platforms like AJ Bell, which offers lower fees, and Hargreaves Lansdown, which provides a broader range of investment options. The fee hikes by Vanguard, which include an increase from 0.15% to 0.22% for funds up to £250,000 and from 0.08% to 0.15% for funds between £250,000 and £1m, have evidently prompted investors to reassess their investment strategies and platform choices.

Read the Full MSN Article at:
[ https://www.msn.com/en-gb/money/top-stocks/these-two-investing-platforms-see-surge-in-transfers-after-vanguard-reveals-fee-hike/ar-AA1waElo ]

Contributing Sources

---